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What would be the correct answers? (please answer all parts it is one question) The marketing department of Jessi Corporation has submitted the following sales
What would be the correct answers? (please answer all parts it is one question)
The marketing department of Jessi Corporation has submitted the following sales forecast for the upcoming fiscal year (all sales are or account): The selling price of the company's product is $13 per unit. Management expects to collect 65% of sales in the quarter in which the sales are made, 30% in the following quarter, and 5% of sales are expected to be uncollectble. The beginning balance of accounts recelvable, all of which is expected to be collected in the first quarter, is $71,000. The company expects to start the first quarter with 1,710 units in finished goods inventory. Management desires an ending finished goods inventory in each quarter equal to 15% of the next quarter's budgeted sales. The desired ending finished goods inventory for the fourth quarter is 1,910 units. Required: 1. Calculate the estimated sales for each quarter of the fiscal year and for the year as a whole. 2. Calculate the expected cash collections for each quarter of the fiscal year and for the year as a whole. 3. Calculate the required production in units of finished goods for each quarter of the fiscal year and for the year as a whole. Complete this question by entering your answers in the tabs below. Calculate the estimated sales for each quarter of the fiscal year and for the year as a whole. the fourth quarter is 1.910 units. the fourth quarter is 1,910 units. Required: 1. Calculate the estimated sales for each quarter of the fiscal year and for the year as a whole. 2. Calculate the expected cash collections for each quarter of the fiscal year and for the year as a whole. 3. Calculate the required production in units of finished goods for each quarter of the fiscal year and for the year as a whole. Complete this question by entering your answers in the tabs below. Caiculote the expected cash collections for each quarter of the fiscal year and for the year as a whole. Required: 1. Calculate the estimated sahes for each quarter of the fiscal year and for the year as a whole. 2. Calculate the expected cash collections for each quarter of the fiscal year and for the year as a whole. 3. Calculate the required production in units of finished goods for each quarter of the fiscal year and for the year as a whole. Complete this question by entering your answers in the tabs below. Calculate the required production in units of finished goods for each quarter of the fiscal year and for the year as a whole Step by Step Solution
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